The Following Are the Current Month's Balances for ABC Financial

question 139

Multiple Choice

The following are the current month's balances for ABC Financial Services, Inc. before preparing the trial balance. $$\begin{array} { | l | r | } \hline \text { Accounts Payable } & \$ 5,000 \\\hline \text { Revenue } & 3,000 \\\hline \text { Cash } & 2,000 \\\hline \text { Expenses } & 15,500 \\\hline \text { Furniture } & 13,000 \\\hline \text { Accounts Receivable } & 12,000 \\\hline \text { Common Stock } & ? \\\hline \text { Notes Payable } & 8,500\\\hline\end{array}$$ What amount should be shown for Common Stock on the trial balance?

• A) $50,000
• B) $26,000
• C) $13,500
• D) $27,000

Develop the ability to critically analyze the content and construct of business messages.

Learn and identify words that carry negative connotations in a business context.

Understand the concepts of cash flows, salvage value, and straight-line depreciation in investment assessment.

Calculate and interpret the accounting rate of return for investment decisions.

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Definitions:

Deviant Lifestyle

A way of living that deviates from the societal norms and is often viewed negatively by the mainstream society.

Cultural-Transmission Theory

A concept in sociology that suggests culture and societal norms are learned and passed down from one generation to the next through socialization.

Appeal to Higher Loyalties

Appeal to higher loyalties is a term used in sociology to describe a situation where an individual justifies breaking societal norms or laws by claiming allegiance to a more significant cause or authority.

Condemning Judgments

Harsh criticisms or assessments that express strong disapproval of someone or something.